Posts Tagged ‘print industry recession’

It comes as no surprise that the printing industry, and it’s sister graphic arts industry, are both hurting during this nasty recession. And while there is no magic bullet to instantly pull these industries back into the black, there is some hope on the horizon with the latest developments in print aggregation models. Through economies of scale and advanced information systems that provide efficiencies in production, printing has an opportunity to become an even greater value and therefore attract more business that will get the economy rolling again.

The following is an excerpt from the article Commercial print industry feels headwinds

“ … the commercial print industry — which plays a major role in the region’s economy and intellectual fabric — is struggling to generate financial black ink. “This year probably challenged (us) more than any other,” said Francis McMahon, director of marketing for Hewlett-Packard Co.’s graphic solutions business.

Two major employers, Eastman Kodak Co. and Xerox, make billions of dollars annually from equipment sales and services to the printing industry. Rochester Institute of Technology arguably is the top school for printing technology in the nation. But the graphic arts economy, like so many other industries globally, has been hard hit by the recession.

Kodak’s Graphic Communications Group for the first half of the year had sales of $1.3 billion, down about 25 percent from the first six months of last year. On the bottom line, a $12 million profit turned into an $88 million loss. Xerox’s first-half production business revenue fell $500 million to $2.1 billion.”



Read Full Post »